Affordable Housing Fund

The City’s in-lieu housing fees were collected and deposited into an Affordable Housing Fund account and can be used to construct, rehabilitate, or subsidize affordable housing or assist other governmental entities, private organizations or individuals to provide or preserve affordable housing. Approximately $4.2 million in funding is available from the City’s Affordable Housing Fund (fund) to support the creation of new units, or rehabilitation and/or preservation of existing units. The fund was created from payments of an in-lieu housing fee required of certain development projects within the City and is intended to fill the financing gap between a project’s total development cost and other available financing sources. Recently the Affordable Housing Task Force directed staff to develop an RFP to seek project proposals from development teams or service providers (Applicants) who are experienced and can demonstrate their ability to finance, design, build/rehabilitate and manage affordable housing.